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Wednesday, June 12, 2002

New Tech for FAs

by: Tony Pennino

New Frontier Advisors is launching its new asset allocation technology, a spokesperson for the firm told the MutualFundWire.com. The platform is intended for the financial advisor space.

Advisors can utilize the software to create portfolios for their clients. New Frontier contends that it uses resampling methodology to hone in on an asset allocation model that is "investment effective and investor intuitive". The firm further argues that an advisor and client using this system can develop a financial plan in 30 minutes or less.

The spokesperson reported that advisors can deploy the new technology to assist their clients with retirement planning, college savings plan and endowment planning for trusts, foundations and estates.

"Historically, portfolio managers relied on periodic review or ad hoc rules to rebalance a portfolio," opined Richard Michaud, president and chief investment officer at the firm. "As a result, both institutional managers and individuals have traded far more than necessary. Our new procedure allows the user to determine when a portfolio is 'statistically' optimal and when trading is required. By properly reducing the need to rebalance, trading costs may often be very substantially reduced and unproductive management effort eliminated."

Licenses for the software are available on a company-wide basis or to individual advisors.

Earlier this year, Morningstar launched a platform, Gold Planner, also designed to help financial advisors design portfolios for their clients, specifically in the mutual fund arena. Gold Planner is based on ClearFuture, the Chicago firm's tool for the 401(k) market. With the introduction of new software in this market, the competition for offering tools to advisors could really start to heat up. 

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